Activision Blizzard (ATVI) Coverage Initiated at Stephens

Equities researchers at Stephens began coverage on shares of Activision Blizzard (NASDAQ:ATVI) in a report issued on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $65.00 price target on the stock. Stephens’ price target suggests a potential upside of 39.66% from the company’s current price.

ATVI has been the topic of several other reports. BidaskClub lowered Activision Blizzard from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. ValuEngine lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. KeyCorp reaffirmed an “overweight” rating and issued a $80.00 price objective (down from $85.00) on shares of Activision Blizzard in a research note on Friday, November 9th. Oppenheimer reduced their price objective on Activision Blizzard from $87.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, November 9th. Finally, Wedbush lifted their price objective on Activision Blizzard from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.29.

ATVI traded down $4.81 during midday trading on Thursday, hitting $46.54. The company’s stock had a trading volume of 35,420,261 shares, compared to its average volume of 11,967,760. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 2.01. The stock has a market capitalization of $38.79 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02. Activision Blizzard has a 52-week low of $43.71 and a 52-week high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Equities research analysts anticipate that Activision Blizzard will post 2.35 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Financial Enhancement Group LLC acquired a new position in Activision Blizzard during the 3rd quarter worth approximately $575,000. Capital International Investors lifted its position in Activision Blizzard by 233.8% during the 3rd quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock worth $754,754,000 after acquiring an additional 6,354,412 shares in the last quarter. Riverhead Capital Management LLC lifted its position in Activision Blizzard by 10.2% during the 3rd quarter. Riverhead Capital Management LLC now owns 12,599 shares of the company’s stock worth $1,048,000 after acquiring an additional 1,168 shares in the last quarter. Iridian Asset Management LLC CT lifted its position in Activision Blizzard by 40.4% during the 3rd quarter. Iridian Asset Management LLC CT now owns 2,792,379 shares of the company’s stock worth $232,298,000 after acquiring an additional 803,888 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Activision Blizzard by 2.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 719,206 shares of the company’s stock worth $59,830,000 after acquiring an additional 16,360 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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